Deere & Company (NYSE:DE) Trading 1.1% Higher

Deere & Company (NYSE:DE)’s stock price was up 1.1% on Thursday . The company traded as high as $401.62 and last traded at $401.05. Approximately 215,160 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,482,925 shares. The stock had previously closed at $396.88.

Analyst Ratings Changes

A number of brokerages have commented on DE. JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Citigroup decreased their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Wells Fargo & Company decreased their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

The stock has a 50 day moving average of $385.17 and a two-hundred day moving average of $382.66. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm has a market capitalization of $110.85 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the business earned $6.55 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. RB Capital Management LLC increased its position in Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after buying an additional 81 shares during the period. Bornite Capital Management LP bought a new position in Deere & Company in the 1st quarter worth approximately $14,541,000. Retirement Income Solutions Inc bought a new position in Deere & Company in the 1st quarter worth approximately $229,000. Sequoia Financial Advisors LLC increased its position in Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after buying an additional 521 shares during the period. Finally, Baird Financial Group Inc. increased its position in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after buying an additional 27,985 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.